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Thread #1,000,000 about the pre-open!

Discussion in 'Beginner's Lounge' started by ChomChom, Jul 8, 2008.

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  1. burnzau

    burnzau

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    G'day All,

    Does anyone know what software/subscription Trembling Hand was using when he made these video's?

    Or does anyone else have any recommendations for a site/software package that can give me live market depth?

    Cheers,

    Craig
     
  2. Trembling Hand

    Trembling Hand Can be found on the bid

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    Craig that software was http://www.iguana2.com.au/spark

    Most brokers have live dynamic depth if you pay for it around $50 to $100 per month or trade enough to get it "free" :rolleyes: etrade for example, https://invest.etrade.com.au/TradingTools/ActiveTraders/Default.aspx
     
  3. teabagger

    teabagger

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    Hi knowers of all things pre open.

    My question is regarding surplus's. If at pre open there are more buyers(or so it appears) than sellers, how/where from does a surplus come about?

    Thanks folks
     
  4. captain black

    captain black

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    I'm not sure I understand the question but the surplus would refer to surplus volume on either the bid or ask at the match or indicative open price.
     
  5. pixel

    pixel DIY Trader

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    quite simple:
    If there is a bid/offer overlap during Pre-Open, the match-out price (usually labelled IAP) is the price, where the two volumes "meet". Rarely are the volumes equal, so you have a surplus of bids or a surplus of offers - which is usually referred to as a negative surplus, or "too few bids".
    Say there are 5000 shares bid 20c or higher, 5010 shares offered for sale 20c or lower, then the surplus is 10 shares on the sellers' side.
    If there are 5000 shares bid 20c or higher, but only 4990 sell offers, then you have 10 shares surplus on the bidders' side - or a shortfall of 10 bids.
    One side's surplus is quoted as plus (I'm quite sure it's bids), the other side as minus.
     
  6. teabagger

    teabagger

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    Thanks Pixel and Captain,

    I knew the answer would be simple. I had a picture in my head of homeless shares until someone picked them up, where as in fact it is just an imbalance.
     
  7. pixel

    pixel DIY Trader

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    Here is an easy-to-follow example:
    Pre-Open, MYG has 210,000 shares bid, 326,845 offered, an EquiVolume of 210,000 matched-out at 7.5c, and a surplus of minus 116,845.

    MYG pre md 10-11-10.jpg
     
  8. mattryanshares

    mattryanshares

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    Start of trading bid prices way above closing price?

    I just noticed on every one of my shares that i hold there are currently bids in way over the selling price or offers to sell price?

    Why is this? Why are people trying to buy say LYC at 2.20 when it was selling yesterday at close at 1.95??

    Are these bogus or does it just garantee they will get them for 1.95???

    Hope ive explained this correctly??
     
  9. mattryanshares

    mattryanshares

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    Re: Start of trading bid prices way above closing price?

    Eg

    Market Depth
    BUY SELL
    52 Week

    Number Quantity Price
    1 80 90.170
    1 13 89.780
    1 2 88.070
    1 173 88.000
    1 148 87.590
    2 530 87.000
    2 1,600 86.940
    4 1,002 86.000
    2 73 85.950
    1 26 85.920
    #
    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    Price Quantity Number
    80.000 7,500 1
    84.390 93 1
    84.900 3,700 1
    85.000 3,112 2
    85.750 47 1
    85.800 14 1
    85.860 142 1
    86.000 10,179 5
    86.100 115 1
    86.170 150 1
    High Low
    88.550 58.860
    Last traded time


    641 buyers for 265,799 units
     
  10. captain black

    captain black

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    Re: Start of trading bid prices way above closing price?

    This thread should explain it:

    https://www.aussiestockforums.com/forums/showthread.php?t=11619
     
  11. mattryanshares

    mattryanshares

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    Not sure if this relates to this thread but i see on closing today someone has put in two bids on LYC for 3200000 and 3800000 shares 2.5 cents above the closing price.

    Are these legit or will they most likely be withdrawn?? Is it illegal to put in offers and then withdraw them??

    Time Price Volume Value Condition
    04:14:27 PM 1.935 3,800,000 7,353,000.00 S1 XT
    04:13:31 PM 1.937 3,200,000 6,198,400.00 S1 XT
    04:10:59 PM 1.910 46 87.86
     
  12. sirpollicles

    sirpollicles

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    Why do people put in premarket orders for like $1 MORE than peoples selling

    example - todays premarket for IL, there is someone wanting shares offering $13, and the lowest selling price is $11.20.

    Whats the dealio?
     
  13. sirpollicles

    sirpollicles

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    Re: Why do people put in premarket orders for like $1 MORE than peoples selling

    ILU**
     
  14. joea

    joea

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    Hi.
    You have focused on the price and volume.
    The condition S1 XT is the explaination.
    You can chase this up on the site where you got it. i.e. it is a cross trade.
    There will be a list of all the conditions.
    I am just about sure that it has been explained on this forum somewhere.
    Cheers
     
  15. FreshTrader

    FreshTrader

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  16. Tristan576

    Tristan576

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    Why does this occurr?

    Hey guys just a quick question - at the end of most trading days the bid price rises substantially in comparison to the offer as seen in the picture.

    What is the reason for this? Is it just a few people trying to sneak in at the last minute or what?

    http://i1239.photobucket.com/albums/ff504/murd576/pricerise.jpg

    Cheers
     
  17. skc

    skc Goldmember

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  18. Boggo

    Boggo

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  19. pixel

    pixel DIY Trader

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    Re: Why does this occurr?

    google "ASX closing auction" or click here: http://www.asx.com.au/products/ASX-Trading%20hours-Market-phases.htm
     
  20. Ridgydidge

    Ridgydidge

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    hmmmm... so much to learn. This is my very first post here. I have been reading threads here for a couple of weeks, taking in all i can (Sir Iso's thread rocks :) ).

    I have a question i believe is pertinent to this thread....

    If there are more buyers than sellers at pre open can you place a buy order to market to ensure your contract is filled? eg.. before the market rises to meet the orders?

    Thanks for all the people who contribute to this site. I am eager to gain as much knowledge as possible before diving into the sharemarket and am grateful for your willingness the share your knowledge :D
     
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